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EUR/GBP - What a great pair to trade!

  • #461
  • Mar 12, 2010 8:51am Mar 12, 2010 8:51am
Quoting fammira
hi mate!

I have shorts at 0,90 and 0,9080 and look to increase my position in
Hi fammira . Looks like you have it nailed. Have a good weekend.
Gone to a better place
  • #462
  • Mar 12, 2010 8:53am Mar 12, 2010 8:53am
Quoting shahab8b
look who is here, how have you been Fammira?

hi shahab8b, I am good, how are you?

been trading the majors, and of course my beloved AUDUSD.
I also like crosses sometimes
  • #463
  • Mar 12, 2010 8:57am Mar 12, 2010 8:57am
Quoting smikester
Hi fammira . Looks like you have it nailed. Have a good weekend.
hopefully, let's see how they will handle it next week...
  • #464
  • Mar 12, 2010 9:30am Mar 12, 2010 9:30am
Hi!

It is so good you both follow this pair...I was starting to think I was the only one. I actually really like this pair but I have been watching more than trading it the last 2 weeks because it kept going against me.

I hope a clearer signal is developing (and follows through). I still see from my charts that we may go back and retest the lows. But we first need to break through .9069.

Thanks for your input...I learn heaps from you guys!
  • #465
  • Mar 14, 2010 3:51am Mar 14, 2010 3:51am
cheers mate!

I guess last week we COULD have seen a temporary top.

but last friday's low is at 0,9042 needs to be broken first

below that level a new test of 0,8990 / 90 area would tell us if is just consolidation move or GBP relative strenght would continue

EUR and GBP should see more short covering bounce against the USD, but after all reached 1,40/41 and 1.54/55, the dollar shall probably start to gain some levels back.

I am a seller at these levels, and would be a buyer in the 0,88 / 89 area with a protective stop below 0,8780....

for the short term I would also have a look at 0,8956, supportive area and 38.2% retracement level of the bounce started at 0.8662 and topped so far at 0.9137
  • #466
  • Mar 19, 2010 4:40am Mar 19, 2010 4:40am
Just added to my shorts at this swing high. This pair has been kind to me this week.
Gone to a better place
  • #467
  • Mar 21, 2010 2:00pm Mar 21, 2010 2:00pm
E/G

aiming parity and beyond
Attached Image (click to enlarge)
Click to Enlarge Name: eg1.gif Size: 18 KB
  • #468
  • Mar 22, 2010 9:00am Mar 22, 2010 9:00am
Quoting shahab8b
E/G

aiming parity and beyond
Maybe we will make it to parity and beyond but as little as I know about Elliot Wave Theory, I can see when someone has the minor and intermediate waves confused.

Not only that, but those trend lines cross at .8863, not 8904. This gives us a descending triangle.

Perhaps you could explain a little more, shahab?
Gone to a better place
  • #469
  • Edited 3:51pm Mar 22, 2010 1:30pm | Edited 3:51pm
Quoting smikester
Maybe we will make it to parity and beyond but as little as I know about Elliot Wave Theory, I can see when someone has the minor and intermediate waves confused.

Not only that, but those trend lines cross at .8863, not 8904. This gives us a descending triangle.

Perhaps you could explain a little more, shahab?
I didnt intend to show the exact crossing point of the trend lines (as you said it should be around .8860-70 and .89 is the 2nd wave low of the new 5wave uptrend) besides I knew that the conventional EW is to count (1)-(2),,, for intermediate and 1-2-3 for minor and I-II-III is for cycle, but I did it that way to save time as I didnt want to spend time putting () around each # .
anyways, the whole point is that I consider that a continuation pattern in a larger uptrend and even if it is a descending triangle/wedge -which is not- doesnt make any difference in the concept.

btw, I appreciate your attention to the details and wish you best luck in your trading.

peace
  • #470
  • Apr 7, 2010 1:55am Apr 7, 2010 1:55am
I am having issues get my chart uploaded but I was wondering if anyone else sees the doji on the 4HR chart?

Now we just have to wait for confirmation on the next candle.
  • #471
  • Apr 7, 2010 5:19am Apr 7, 2010 5:19am
Could you post a chart? This shows as a bullish, engulfing bar on my feed/chart, but we are in a strong down trend, so I might give it a miss. I was just knocked out of my shorts with a tight trailing stop.

Chart:

Attached Image (click to enlarge)
Click to Enlarge Name: eurgbp100407h4.gif Size: 23 KB
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  • #472
  • Apr 7, 2010 10:53am Apr 7, 2010 10:53am
Eur/GBP has been on a bearish trend since March 28. It's been some of the easiest money I've made, times 2.
  • #473
  • Apr 7, 2010 11:40am Apr 7, 2010 11:40am
I think there should be a solid reversal at this region,i think it should find a surport here 0.8760,those anyone think something........
  • #474
  • Apr 7, 2010 11:57am Apr 7, 2010 11:57am
Quoting smikester
Could you post a chart?
Smikester forexstrah said he was having difficulty posting a chart!
Gone to a better place
  • #475
  • Apr 7, 2010 8:52pm Apr 7, 2010 8:52pm
I would expect this to go lower here. Yesterdays candle crossed the 210 EMA on the Daily . Expect more drop...IMO
  • #476
  • Apr 8, 2010 12:01am Apr 8, 2010 12:01am
Can be looking around some more till 8730 , 8716 or 8700 per se ! Open will give some idea !
Waiting as of now !
100 Fold Challenge->Interested? ->https://www.forexfactory.com/thread/32152
  • #477
  • Apr 8, 2010 12:45am Apr 8, 2010 12:45am
Quoting smikester
Here is the two day chart:

Attachment


A clean break of the weekly pin bar at .8956 will see me add to this trade.

The usual suspects come into play here: .9025 daily support, .9000 of course, .8830 monthly support, .8600 monthly support and my target .8450 which I hope to see by the General Election in May. The drinks will be on me.
I'm not in a trade at the moment as I tightened my stops when we bounced off .8760. I have had a good run down the hourly channel. I'm now looking for an excuse to go short with small market orders above current level. Not sure where we are going.

I fully expect the Eur/USD to break down and equally, I am expecting Sterling to break down. I am heavily short on both.

Areas to watch are the lower trend line .8740 ish - not very important in my opinion - and the weekly support at .8700 to .8650.

If Greece defaults and the other Euro meds plus Ireland default then watch for support around .5000

Attached Image (click to enlarge)
Click to Enlarge Name: eurgbp100408h1.gif Size: 17 KB
Gone to a better place
  • #478
  • Apr 9, 2010 12:27am Apr 9, 2010 12:27am
WS2 8736 is acting from quite some now.
I added some longs here.(short term)
Lets WnWatch
100 Fold Challenge->Interested? ->https://www.forexfactory.com/thread/32152
  • #479
  • Apr 9, 2010 1:59am Apr 9, 2010 1:59am
Looks like...sub-8736 orders have been sucked in, stops hunted
and moving up now!
EG around DP 8753, at days high, prolly false breaking downside earlier before, out of asian range.
Basic Indi's like RSI are showing clear reverse bullish divergence(esp if this day turns out to be moderate green)
Lets WnWatch
100 Fold Challenge->Interested? ->https://www.forexfactory.com/thread/32152
  • #480
  • Apr 9, 2010 5:23am Apr 9, 2010 5:23am
Ok it saw 8730 8716 and 8706 as days low (till now).

Like wise i have added more longs at 8716.
Lets see how this day/week closes. very important imo.
100 Fold Challenge->Interested? ->https://www.forexfactory.com/thread/32152
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